Here is another weirdo commenting on the crisis!
The economy faces a slump deeper than the Great Depression and a growing deficit threatens the credit of the United States itself, former Goldman Sachs chairman John Whitehead, said at the Reuters Global Finance Summit on Wednesday.
Let's hope the nitwit is completely wrong...
Crisis. What crisis?
Crisis. What crisis?
"if you don't read the newspaper, you are uniformed. If you do read the newspaper, you are misinformed". (Mark Twain)
Re: Crisis. What crisis?
GM's Bust Turns Detroit Into Urban Prairie of Vacant-Lot Farms
By Michael McKee and Alex Ortolani
Dec. 8 (Bloomberg) -- General Motors Corp., Ford Motor Co., and Chrysler LLC are fighting for their lives. Large stretches of Detroit are already dead. With enough abandoned lots to fill the city of San Francisco, Motown is 138 square miles divided between expanses of decay and emptiness and tracts of still-functioning communities and commercial areas. Close to six barren acres of an estimated 17,000 have already been turned into 500 ``mini- farms,'' demonstrating the lengths to which planners will go to make land productive.
The city, like the automakers, has to shrink to match what's left, said June Thomas, a professor of urban and regional planning at the University of Michigan in Ann Arbor.
``The issue is how,'' she said. ``There's no vision.''
You can read the full article at Bloomberg.com.
As in most cases, the US is ahead of the rest of the world. I make myself no illusions: this is coming to Europe and the rest also in a few month/years.
What to do about it??
1. Sell your stocks.
2. Get out of any life insurance program.
3. Get rid of your debts.
4. Sell everything you don't need for cash.
5. Buy gold and silver.
6. Stock supplies (MRE's, fuel, etc.).
7. Do it before it is too late (before November 2008).
8. Yep you're too late already. Sorry!
By Michael McKee and Alex Ortolani
Dec. 8 (Bloomberg) -- General Motors Corp., Ford Motor Co., and Chrysler LLC are fighting for their lives. Large stretches of Detroit are already dead. With enough abandoned lots to fill the city of San Francisco, Motown is 138 square miles divided between expanses of decay and emptiness and tracts of still-functioning communities and commercial areas. Close to six barren acres of an estimated 17,000 have already been turned into 500 ``mini- farms,'' demonstrating the lengths to which planners will go to make land productive.
The city, like the automakers, has to shrink to match what's left, said June Thomas, a professor of urban and regional planning at the University of Michigan in Ann Arbor.
``The issue is how,'' she said. ``There's no vision.''
You can read the full article at Bloomberg.com.
As in most cases, the US is ahead of the rest of the world. I make myself no illusions: this is coming to Europe and the rest also in a few month/years.
What to do about it??
1. Sell your stocks.
2. Get out of any life insurance program.
3. Get rid of your debts.
4. Sell everything you don't need for cash.
5. Buy gold and silver.
6. Stock supplies (MRE's, fuel, etc.).
7. Do it before it is too late (before November 2008).
8. Yep you're too late already. Sorry!
"if you don't read the newspaper, you are uniformed. If you do read the newspaper, you are misinformed". (Mark Twain)
Re: Crisis. What crisis?
The problem I'm having with the current crisis is how the media is doing their best to portray this as...
OMG!!! THE WORST SITUATION EVER!!!! IT'S NEVER BEEN THIS BAD!!! DOOM!!!! GLOOM!!!! HEAD FOR THE HILLS!!!
I'm not saying the situation is good...it definitely doesn't look good and there's no telling when it might get better. But with the media's penchant for making everything sound as bad as possible so we all stay glued to the TV news and buy more newspapers, I just don't trust what they're saying.
Is this is as bad or worse than The Great Depression (as they seem to want me to believe)? Is it better or worse than the last economic downturn that hit the country? I don't know...and I sure as heck can't say from the doom and gloom forecasts in the news.
OMG!!! THE WORST SITUATION EVER!!!! IT'S NEVER BEEN THIS BAD!!! DOOM!!!! GLOOM!!!! HEAD FOR THE HILLS!!!
I'm not saying the situation is good...it definitely doesn't look good and there's no telling when it might get better. But with the media's penchant for making everything sound as bad as possible so we all stay glued to the TV news and buy more newspapers, I just don't trust what they're saying.
Is this is as bad or worse than The Great Depression (as they seem to want me to believe)? Is it better or worse than the last economic downturn that hit the country? I don't know...and I sure as heck can't say from the doom and gloom forecasts in the news.
Re: Crisis. What crisis?
kman, I hope for the best, and plan for the worst!
Since the summer of 2007 I've been reading about the events that now unfold before our eyes.
The events weren't covered by the Big Press then - and only a handfull of weirdo's predicted the future.
It's easy: Count all the debts our countries (=we) made and try to figure out how it can ever be paid back.
When you dig deep into the internet you will find the first warnings were already given in the late Eighties and increasing towards October 2008.
So, in fact it have been all predicted long ago. Of course many mistakes and false assumptions have been made, but the bottom line was the same: This excessive lending and spending had to stop one time.
The gloom&doomers were laughed upon and absolutely not taken serious. I tried in many instances to persuade friends and relatives on the seriousness of what was coming, but all turned their heads and laughed. This was long before the main press 'discovered' this news topic.
In the fall of 2007 I decided to get ready for the future. I sold all my stocks (not much: 40x dell and 20x Cisco), paid my debts, bought some gold/silver and stocked commodities (food).
Some things I couldn't change. 15 years ago I had to buy a life insurance together with a mortgage. This insurances should pay me 77.000 euro's at the end of its life time (now in 15 years), but this spring I got a letter that the maximum amount will be 44.000 euro's. So I already lost 33.000 euro's on this f@cking insurance!! And that was before the 2008 Market Crash!
Now many of my friends and collegues have the same problems. Okay, we don't need to deny us anything now, but I my pension is partially smoked.
When I do my calculations on the debts, loans, and all the other strange financial vehicles that have been made up, I can only conclude that we are heading for disaster. Hey, and I know only the very basics of economy! (=lending money is expensive/save before you buy).
Hopefully it will all pass soon, and I will be left with a ton of combat rations.
Since the summer of 2007 I've been reading about the events that now unfold before our eyes.
The events weren't covered by the Big Press then - and only a handfull of weirdo's predicted the future.
It's easy: Count all the debts our countries (=we) made and try to figure out how it can ever be paid back.
When you dig deep into the internet you will find the first warnings were already given in the late Eighties and increasing towards October 2008.
So, in fact it have been all predicted long ago. Of course many mistakes and false assumptions have been made, but the bottom line was the same: This excessive lending and spending had to stop one time.
The gloom&doomers were laughed upon and absolutely not taken serious. I tried in many instances to persuade friends and relatives on the seriousness of what was coming, but all turned their heads and laughed. This was long before the main press 'discovered' this news topic.
In the fall of 2007 I decided to get ready for the future. I sold all my stocks (not much: 40x dell and 20x Cisco), paid my debts, bought some gold/silver and stocked commodities (food).
Some things I couldn't change. 15 years ago I had to buy a life insurance together with a mortgage. This insurances should pay me 77.000 euro's at the end of its life time (now in 15 years), but this spring I got a letter that the maximum amount will be 44.000 euro's. So I already lost 33.000 euro's on this f@cking insurance!! And that was before the 2008 Market Crash!
Now many of my friends and collegues have the same problems. Okay, we don't need to deny us anything now, but I my pension is partially smoked.
When I do my calculations on the debts, loans, and all the other strange financial vehicles that have been made up, I can only conclude that we are heading for disaster. Hey, and I know only the very basics of economy! (=lending money is expensive/save before you buy).
Hopefully it will all pass soon, and I will be left with a ton of combat rations.
"if you don't read the newspaper, you are uniformed. If you do read the newspaper, you are misinformed". (Mark Twain)
Re: Crisis. What crisis?
When I/we discovered, situation is getting worse, we deceided to spend our money and buy stuff like my new BMW X3 (€43000.-), a new Laptop (€399), a new stove (€3700.-) 12 cases of 2007 MREs, jerry and water cans, NBC gear, cot´s...
Maybe money can loose it´s value, but an item keeps the item it was before
Maybe money can loose it´s value, but an item keeps the item it was before
Re: Crisis. What crisis?
Well done, housil!
The cheapest BMW X3 costs in Holland about € 48.000. The most expensive (BMW X3 xDrive30iA High Executive) is about € 78.000. Without the options, of course.
Unfortunately I don't have the money to buy such a fine car, but if I had I could buy one.
I do have the money to buy 12 cases of MRE, however nobody sells them! They are unobtainable over here.
What a terrible news to end my message...
The cheapest BMW X3 costs in Holland about € 48.000. The most expensive (BMW X3 xDrive30iA High Executive) is about € 78.000. Without the options, of course.
Unfortunately I don't have the money to buy such a fine car, but if I had I could buy one.
I do have the money to buy 12 cases of MRE, however nobody sells them! They are unobtainable over here.
What a terrible news to end my message...
"if you don't read the newspaper, you are uniformed. If you do read the newspaper, you are misinformed". (Mark Twain)
Re: Crisis. What crisis?
BURN THE CERDIT CARDS!!!!!! DON'T FOLLOW THE SYSTEM!!! SAVE!!!!!!....ELIMINATE YOUR DEBT!!!!!... ok...lol that's better off my system....lol 
Peace!
Peace!
"Live long and prosper..."
Re: Crisis. What crisis?
Do NOT burn credit cards!!
They atribute to more CO2 in the atmosphere. We don't want that, or?
Shame on you, Buran. Credit cards can also be used to .. uhh.. well... break into a house or so.
They atribute to more CO2 in the atmosphere. We don't want that, or?
Shame on you, Buran. Credit cards can also be used to .. uhh.. well... break into a house or so.
"if you don't read the newspaper, you are uniformed. If you do read the newspaper, you are misinformed". (Mark Twain)
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Garron
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Re: Crisis. What crisis?
The bank gave me a credit card.... its hasn't left the envelope and it tucked away safely, I don't even know what the PIN is.... Its never going to get used incase I'm acctually flat broke and car afford to eat... then again theres always Brit ration packs 
Gaz
Gaz
Re: Crisis. What crisis?
They're good for scraping windshields too...aquarius wrote:Do NOT burn credit cards!!
They atribute to more CO2 in the atmosphere. We don't want that, or?
Shame on you, Buran. Credit cards can also be used to .. uhh.. well... break into a house or so.
Avid practitioner of the martial art: KLIK-PAO